Nuveen has completed the first close of its Energy & Power Infrastructure Credit Fund II (EPIC II), raising $1.3 billion in initial capital commitments toward its $2.5 billion target. This fund aims to provide private credit solutions for infrastructure projects, meeting the growing demand for energy driven by digitalization, electrification, and reindustrialization in North America, Europe, and other OECD countries.
EPIC II focuses on secure and reliable energy generation and sustainable infrastructure, investing across the entire energy ecosystem, including renewables, energy storage, hydrocarbons, and liquefied natural gas. The strategy emphasizes strong cash flows while mitigating risks through collateral protection and long-term contracts. It finances bespoke projects, equipment growth, acquisitions, recapitalizations, and structured credit solutions.
The fund has received commitments from a leading Canadian pension fund manager and TIAA, with nearly half of the funds sourced internationally from prominent institutional investors. EPIC II builds on the success of Energy & Power Infrastructure Credit Fund I (EPIC I).
Led by industry veteran Don Dimitrievich, Nuveen’s Energy Infrastructure Credit (EIC) team consists of 13 investment professionals with an average of 20 years of experience. The EIC platform has invested over $13 billion across market cycles, providing access to attractive asset classes. As of March 31, 2025, Nuveen manages more than $35 billion in infrastructure assets.
KEY QUOTE:
“Bringing together the resiliency of infrastructure assets and the private credit playbook that utilizes covenant protection and structural flexibility has unlocked a strong level of investor demand across the globe. Investors are increasingly interested in strategies that capitalize on their conviction in the growing global energy demand brought on by digitalization, electrification and reindustrialization while also seeking downside risk mitigation to guard against macro volatility, and inflationary and geopolitical risk. As we reach this latest milestone, we remain focused on deploying capital into resilient companies and projects across the energy and power ecosystem that capture this historic market opportunity while providing durable income potential.”
Don Dimitrievich, Senior Managing Director & Portfolio Manager, Energy Infrastructure Credit
